Albany, New York, Jan. 04, 2019 (GLOBE NEWSWIRE) -- The major players in the global automotive microcontrollers market are focusing more on creating advanced software that are needed for proper working of the vehicles. Some of the key players leading in the global automotive microcontrollers market are NXP Semiconductors NV, Texas Instruments Incorporated, STMicroelectronics NV, Renesas Electronic Corporation, Microchip Technology Inc., and Silicon Labs Private Limited. The players are consistently investing in the expansion of the market. Maxim Integrated Products, Inc., Fujitsu Limited, Toshiba Corporation, and Infineon Technologies are some more firms contributing in the market growth.
According to a recent report by Transparency Market Research (TMR), the global automotive microcontrollers market is prognosticated to project a significant growth with more than 10% CAGR, within the forecast period from 2017 to 2022. The global automotive microcontrollers market is valued to be of worth more than US$ 1,600 Mn of revenues by the end of 2022.
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On the basis of vehicle type, heavy commercial vehicles segment is foreseen to witness the highest revenue share of the entire automotive microcontrollers market in the coming years. As per the geography, maximum automobiles in North America are fitted out with latest safety features and body electronics that as a result fuels the regional automotive microcontrollers market. In 2017, North America emerged as the leading region in the global automotive microcontrollers market. Nevertheless, the market in Asia Pacific region is estimate to take the lead over North America by the end of forecast period.
Rising Modernization of Vehicles to Boost Market Growth
Developing electrification of drivetrain by OEMs and Tier I providers is considered to augment the popularity of microcontrollers in the vehicles in the forthcoming years. Governments all over the globe have presented stringent automotive safety and security standards concerning the effect on the environment of manufacturing procedures and materials utilized for automotive microcontrollers. With rise in modernization of vehicles, interest for microcontrollers is picking up a pace.
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Microcontrollers are currently being adopted in the field of infotainment, giving network connectivity to the vehicles. Since past few years, hybrid electric vehicles have experienced a flood in adoption due to their efficiency and energy saving property. These vehicles require similarly more microcontrollers than usual vehicles. In spite of the fact that cost of microcontrollers were consistently low in the past, labels for microcontrollers will observer a slow rise over the period of forthcoming years. This is probably going to lead toward a rise in costs of vehicles. Besides, incorporation of microcontroller is foreseen to stay challenged for vehicle producers, which can be credited to their advanced and complex designs.
Increased Usage of Microchips to Propel Market Growth
One of the key patterns witnessed in the global automotive microcontrollers market is usage of microchips to make advancement in the connectivity of the vehicle with its moving frameworks, and to improve the vehicle's adaptability. An automotive microcontroller empowers increase in the execution speed, permits programmed control sensing, and enhances healthcare features including the air pack control and high temperature control. Right now, microcontrollers are being actualized in refined safety highlights, for example, surround view cameras, blind spot detection, automated braking & lighting, lane change warning, advanced driver assistance systems (ADAS).
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The review is based on the findings of a report by Transparency Market Research, titled “Automotive Microcontrollers Market (Material Type - Tinned Steel, Nickel Cobalt Ferrous Alloy, and Copper Alloy; Vehicle Type - Compact Passenger Cars, Mid-sized Passenger Cars, Premium Passenger Cars, Luxury Passenger Cars, Light Commercial Vehicles, Heavy Commercial Vehicles, and Electric Vehicle; Application - Advanced Driver Assistance System, Parking Assist System, Brake Control System, Electric Control Suspension, Airbags, Functional Safety Technology, Transmission Control, Start-Stop System, Electronic Power Steering System, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2022.”
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The global Automotive Microcontrollers Market is segmented as follows:
Global Automotive Microcontrollers Market, by Type
- Nickel-Cobalt Ferrous Alloy
- Tinned Steel
- Copper Alloy
Global Automotive Microcontrollers Market, by Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Spain
- Italy
- Russia & CIS
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- ASEAN
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
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